Today’s big question for investors is, “what’s going on with Laredo Petroleum, Inc. (NYSE:LPI) stock? Its price is nose-diving -0.1 points, trading at $2.84 levels, and is down -3.57% from its previous close of $2.94. The shares seem to have an active trading volume day with a reported 886738 contracts so far this session. LPI shares had a relatively better volume day versus average trading capacity of 5.63 million shares, but with a 0.18 billion float and a -11.18% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for LPI stock indicates that the average analyst price target is $4.85 per share. This means the stock has a potential increase of 70.77% from where the LPI share price has been trading recently which is between $2.89 and $3.05. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $3.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Should Value Investors Pick Laredo Petroleum (LPI) Stock Now?” and dated May 14, 2019.
During the recent trading session for Laredo Petroleum, Inc. (NYSE:LPI), the company witnessed their stock drop by $-0.54 over a week and tumble down $-0.16 from the price 20 days ago. When compared to their established 52-week high of $10.43, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/07/18. The recent low of $2.79 stood for a -72.82% since 05/29/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.42 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Laredo Petroleum, Inc., the two-week RSI stands at 35.37. This figure suggests that LPI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current LPI readings is similarly very revealing as it has a stochastic reading of 12.27% at this stage. This figure means that LPI share price today is being overbought.
Technical chart claims that Laredo Petroleum, Inc. (LPI) would settle between $3.03/share to $3.12/share level. However, if the stock price goes below the $2.87 mark, then the market for Laredo Petroleum, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $2.8 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.23. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Williams Capital Group raised their recommendation on shares of LPI from Hold to Buy in their opinion released on May 16. Robert W. Baird analysts bumped their rating on Laredo Petroleum, Inc. (NYSE:LPI) stock from Neutral to Outperform in a separate flash note issued to investors on May 09. Analysts at Societe Generale lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to February 15.
LPI equity has an average rating of 2.87, with the figure leaning towards a bullish end. 15 analysts who tracked the company were contacted by Reuters. Amongst them, 9 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 3 analysts rated Laredo Petroleum, Inc. (NYSE:LPI) as a buy or a strong buy while 3 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, LPI stock price is currently trading at 3.54X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.66 while for the average stock in the same group, the multiple is 91.26. Laredo Petroleum, Inc. current P/E ratio of 2.97 means it is trading at a discount against its industry’s 4.19. In the past 5 years, this ratio for the stock has been fluctuating between 2.6 and 5.59.
Laredo Petroleum, Inc. (LPI)’s current-quarter revenues are projected to climb by nearly -42.59% to hit $201540, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -29.87% from $1.11 billion to a noteworthy $775500. At the other end of the current quarter income statement, Laredo Petroleum, Inc. is expected to see its adjusted earnings surge by roughly -16% to hit $0.21 per share. For the fiscal year, LPI’s earnings are projected to climb by roughly -19.35% to hit $0.75 per share.